How to create a rope
Many thanks to Rich for helping me solve this!

I created a single edge at the length I wanted my string/rope. I then subdivided it till I saw fit (will not look choppy).

Create three vertex groups:
  One for one end, one for another, and one with both (in my case 
  pin_Float, pin_Floor and pin_Ends)

In turn, click on each control object and hook to the specified ends (not the double ended one ;) )

Add a soft body to your string and set 'default' and 'stiffness' under the 'Soft Body Goal' to max. Then underneath assign the vertex group with both ends to 'Vertex Group'

Play and adjust the settings under 'Soft Body Edges' until the rope moves as required

I also applied 'Soft Body Self Collision' and a Skin modifier

The Rigidbody and Collision physics can also be applied making it very easy to use.

Again, thanks to @Rich Sedman for his help.